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Market Analysis

Home » Featured » Dow Jones Mini Futures, Technical Analysis for November 24, 2015

Dow Jones Mini Futures, Technical Analysis for November 24, 2015

Posted by FXTimes in Featured - November 24th, 2015 4:18 am GMT

Chart setups:
The daily chart view presented here indicates that Dow Jones remains structurally unchanged for now, with prices holding below resistance at 18100 levels for now. A break below 17400 levels would accelerate downside towards 16700 levels at least and further low as well. Please note that bears are expected to remain in control till prices stay below 18,000 levels broadly. Immediate resistance is seen through 17980 levels, followed by 18050 and higher while support is seen a\through 17400 levels, followed by 17000 and lower respectively. Please note that RSI had turned lower from 70 levels earlier and is still reversing from 65, indicating a continued down move. Also note, that a break below 16500 levels would trigger massive selloff (break of the counter trend rally) and target lower towards 15000 levels as well.
Trading recommendations:
Remain short, stop at 18200, target 16700 at least.

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